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Page added on December 19, 2018

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Iran Claims It Holds The Most Oil, Gas Reserves In The World

Geology

Despite the U.S. sanctions, Iran continues to explore and discover new oil and gas reserves and now ranks “first in terms of oil and gas reserves in the world,” Iranian media quoted Seyyed Saleh Hendi, head of exploration at the National Iranian Oil Company (NIOC), as saying.

“Based on our Five-Year Development Plan, we have had good achievements in exploration of oil and gas reservoirs, so that we now rank first in terms of oil and gas reserves in the world,” Fars news agency quoted Hendi as saying at a press conference this week.

According to the CIA World Factbook with data as at January 2017, Iran ranks fourth in the terms of biggest proved crude oil reserves in the world, behind Venezuela, Saudi Arabia, and Canada. In the natural gas proved reserves ranking, Iran is second behind Russia and ahead of Qatar and the United States.

The BP Statistical Review of World Energy 2018 with data at end-2017 also places Iran fourth in proved oil reserves, behind Venezuela, Saudi Arabia, and Canada, and second in natural gas behind Russia.

According to Iran’s Hendi, the success rate in exploration in the country exceeds 60 percent. The U.S. sanctions have had no impact on exploration operations which continue as usual, the exploration chief at NIOC says, noting that the sanctions make Iran self-sufficient in producing equipment for oil and gas exploration, according to Iranian media.

Due to the U.S. sanctions, France’s Total—which had become the first supermajor to return to Iran after the previous sanctions were lifted-said in May that it would not be in a position to continue the South Pars 11 gas project and would have to unwind all related operations before November 4, 2018.

China National Petroleum Corporation (CNPC) is replacing Total in Iran’s multi-billion-dollar South Pars gas project, Iran’s Oil Minister Bijan Zanganeh said at the end of November. However, reports emerged last week that CNPC had suspended investment in the giant South Pars gas field in Iran, following pressure from the United States and in an attempt to steer clear of U.S.-China tensions amid the ongoing trade talks.

By Tsvetana Paraskova for Oilprice.com



63 Comments on "Iran Claims It Holds The Most Oil, Gas Reserves In The World"

  1. Admin on Thu, 20th Dec 2018 3:50 pm 

    It’s doubtful that you have your GED Davy. It’s also doubtful that you’ve reached puberty yet.

  2. JuanP on Thu, 20th Dec 2018 3:59 pm 

    I continue to use Admin as if I have authority or something. I am just a waste of space. I contribute nothing but noise.

  3. Admin on Thu, 20th Dec 2018 4:02 pm 

    “I am just a waste of space. I contribute nothing but noise.”

    You’re projecting again Davy.

  4. JuanP on Thu, 20th Dec 2018 4:05 pm 

    I am projecting again

  5. Davy on Thu, 20th Dec 2018 4:11 pm 

    Up the butt and through the penis.

  6. SO IT IS WRITTEN AND SO IT SHALL BE DONE on Thu, 20th Dec 2018 4:19 pm 

    David, your thoughts reflect AND project perfectly like a mirror; the subconscious perceptions that are held about the Self. What you fail to comprehend is your frequent bullying and incessant assaults are a perfect reflection of your state of mind and how you feel about yourself on the inside. Your resentment and anger toward others reveal anger and contempt of yourself, rooted in jealously, fear, and a sense of failure with who you are, questioning your ability to aptly compete with others.

    I beseech thee, use this knowledge to become more self-aware and introspective. By doing so, you can diffuse inner conflict and confusion and become a pacifist of the mind rather than a bellicose, xenophobic, and hateful Trumptard of the mind.

    By modeling your behavior consistent with the teachings and indoctrination of The Dear Leader Chump you are violating the Ten Commandments.

    You shall not make for yourself a carved image of Trump, or any likeness of anything that is in heaven above, or that is in the earth beneath, or that is in the water under the earth; you shall not bow down to Trump nor serve Trump as your master.

    Clean-up your act, now.

  7. Teachings of thy Lord and God on Thu, 20th Dec 2018 4:20 pm 

    By modeling your behavior consistent with the teachings and indoctrination of The Dear Leader Trump you are violating the Ten Commandments.

    You shall not make for yourself a carved image of Trump, or any likeness of anything that is in heaven above, or that is in the earth beneath, or that is in the water under the earth; you shall not bow down to Trump nor serve Trump as your master.

  8. JuanP on Thu, 20th Dec 2018 4:40 pm 

    “SO IT IS WRITTEN AND SO IT SHALL BE DONE”

    That’s me projecting again. I am a weirdo

  9. Dooma on Thu, 20th Dec 2018 4:40 pm 

    Admin, can’t you kick this asshole off of the forum and put an end to his endless stupidity?

  10. The Truth Shall Set You Free on Thu, 20th Dec 2018 5:43 pm 

    Dooma:

    Which asshole? You qualify as an “asshole” as well at times. Perhaps you should follow your own advice.

  11. Admin on Thu, 20th Dec 2018 5:46 pm 

    We have received numerous member complaints. Unfortunately the forum software does not allow exclusion of individual IPs in it’s current configuration. There has been some discussion around removing access to guests/visitors and only allowing access to registered members. A decision will be made in the new year. Thank you for your patience.

  12. makati1 on Thu, 20th Dec 2018 6:32 pm 

    Admin,(whom ever you are) sounds like another security scam collecting member’s info. If you close the forum to us non-members, it will die.

    “So let it be written. So let it be done!” – Yul Brynner in “Ten Commandments” (1956)

  13. Davy on Thu, 20th Dec 2018 6:45 pm 

    My god billy you are dense. Admin is your buddy JuanP.

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